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Nifty outlook and top trading ideas from Sacchitanand Uttekar, DVP - Technical (Equity), Tradebulls Securities
Nifty Outlook: Nifty remains on the set course towards 11245 as it trades comfortably above 11100 mark. The ADX in the lower panel has jumped to 35.85 which is a good sign of incremental strength. The shift in OI build up range from 10900 to 11100-11000 also compliments the bullish setup. Hence expect the index to continue higher & declines if any should be used to add longs with a revised stop now at 10970 below the rising trend line support.
Nifty Outlook: Nifty remains on the set course towards 11245 as it trades comfortably above 11100 mark. The ADX in the lower panel has jumped to 35.85 which is a good sign of incremental strength. The shift in OI build up range from 10900 to 11100-11000 also compliments the bullish setup. Hence expect the index to continue higher & declines if any should be used to add longs with a revised stop now at 10970 below the rising trend line support.
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